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Bought with Arvand Sabetian • Ziprent
Coldwell Banker Realty
$870,000
$949,000
8.3%For more information regarding the value of a property, please contact us for a free consultation.
9,500 Sqft Lot
SOLD DATE : 01/31/2020
Key Details
Sold Price $870,000
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 21926127
Sold Date 01/31/20
HOA Y/N No
Year Built 1900
Lot Size 9,500 Sqft
Property Sub-Type 5 or More Units
Property Description
740 Mendocino Ave, is a fully occupied 5-unit Victorian Multifamily property in the heart of Santa Rosa,CA in the very desirable JC neighborhood. SMART Train, restaurants, shops and amenities that Downtown Santa Rosa has to offer. Only minutes away to freeway, local schools and the Santa Rosa Junior College. The property consists of Two very large, 2-bed/1bath, One 1 bed/1bath, One freestanding cottage and a freestanding Studio. Rents are well below market.Units have been maintained but could be renovated as units turnover. Property has ample parking for tenants and coin operated laundry room for additional income. This property has a value add opportunity through interior renovation and under market rents. Current Cap is 5.4%,12.7 GRM Proforma Cap is 6% 11.76 GRM 6.53% Cash on Cash Return
Location
State CA
County Sonoma
Area Santa Rosa-Northeast
Interior
Heating Wall Furnace
Flooring Carpet, Wood
Exterior
Parking Features Carport, Off Street
Utilities Available Cable Available, City
Roof Type Composition
Building
Foundation Brick/Mortar, Pillar/Post/Pier
Sewer Public Sewer
Water Public
Others
Special Listing Condition Offer As Is
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